Taking lead on innovation and sustainability contributes to organic growth in BioMar Group
BioMar Group continues to deliver strong financial results. The company has performed a H1 with improved sales and stronger EBIT compared to H1 2016. The sales volume was 28% higher than same period last year, mainly driven by the salmon markets in Europe. Innovative products integrating high performance, functional feeds and sustainability concepts have shown to be a very strong platform for growth:
“We are proud that we have been able to create solid partnerships with customers as well as suppliers in our effort to develop the industry. We are right now taking major steps in improving our ability to design and document truly sustainable products together with the customers. We will in a short time be ready to launch our new tool Triple S (Sustainable Solution Steering) enabling us to enhance transparency and measure the sustainability of our products looking all the way up the value chain. At the same time we are striving to build a very strong pipeline for new innovative raw materials improving the sustainability of the industry”, explains Carlos Diaz, CEO in BioMar Group.
BioMar expect to reach revenue of 9.8 billion DKK in 2017 which will be a record year for the company. At the same time BioMar is preparing for significant for growth in new markets through acquisitions and green field projects.
The latest announced expansion project has been the acquisition of Alimentsa in Ecuador, which together with the existing factories in South and Central Americas will compose a strong production footprint and a solid platform for the continuous development of high-end shrimp feed. In the first half of 2017 BioMar has furthermore announced the construction of a new factory in Australia. The factory is going to complement the strong salmon division and work closely together with the local customers developing feed for other species in the region.
The announcement also states that BioMar is very focused in the continuous development of the operations China focusing on the significant market for high performing feed in the country. The company is finalizing the construction of the new factory in Wuxi and experience good development of the Haiwei factory in the south of China.
The amplified range of expansion projects will add growth possibilities in markets where BioMar believes to be able to contribute with knowledge and experience:
“We are determined to contribute with the expertise we have built up in our established markets to develop products and services to our new customers around the globe. We continue executing on our strategy “Shaping the future“, where we are positioning BioMar as the only focused global aqua feed supplier; striving for local agility and global excellence”, explains Carlos Diaz.